USOIL (CRUDE) @ important resistance levels on MONTHLY chart

21 thg 2, 2021

USOIL is at very crucial supply zones as it seems. It's near a multi-year resistance levels (earlier used to be support) of $59-$62. It is also facing a multi-year trend line resistance having 4 touches till now. So, wait for these zones to be broken on upside for initiating any long positions further. It can also consolidate around here for sometime before giving any up move or down move (after rejection candle & confirmation Candle). Keep it on your watchlist.